What AAVE price has in stock for next week

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AAVE has a market capitalisation of $4.36 billion. In the last 24 hours, the asset’s price has risen 4.74 percent, while the TVL has risen nearly 5 percent. For more than a week, AAVE has been caught in a range between $320 and $391. Retail traders anticipate a drop in AAVE and have opened short positions, predicting a drop to the late February price point of about $311.

However, on-chain research based on data from intotheblock is bullish; over $844 million in major transactions have occurred on the AAVE network in the last week. This may be attributed in part to Lend’s move to AAVE and in part to the heavy concentration of big wallet HODLers (88 percent).

The concentration and frequency of major purchases indicate that the market could be rallying back towards $450 (from 30 days ago). This is one of many major transfers on the AAVE network, with over 7719 AAVE worth $2.6 Million moved from an undisclosed wallet to Binance.

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If liquidity remains strong, the concentration in big wallets could have provided the perfect supply shortage narrative for the price to rally to a local peak over the next week. According to the price curve, the scarcity could help drive the price past the nearest resistance level.

Why AAVE's price may hit $450 next week

AAVE Price chart || Source: Coinmarketcap.com

The markets with the most volume in AAVE are AAVE/USDT on Binance, Huobi, and OKEx. Demand for AAVE has risen in these markets, and liquidity has improved, reducing selling pressure. Despite the fact that trades greater than $100,000 have fallen by more than 6% on exchanges, there are more transactions by retail traders.

With nearly half of AAVE HODLERS profitable at the current price level, a local top can insure that more than 60% are profitable.

The latest buzz in the trading sector derives from the possibility of more technological advances. About $5.6 billion in liquidity has been enjoyed by the AAVE group in the last week, and this has been a primary factor of AAVE’s price over the last two weeks.

Why AAVE's price may hit $450 next week

AAVE’s liquidity || Source: Twitter

The flash loan deposits at 0.09 percent have increased the AAVE’s liquidity by more than 77 percent. For the last two weeks, there has been a steady high rate of borrowing, which has contributed over $78000 in payments. With the launch of AMM this week, there were $1.1 million in liquidations, increasing competition on exchanges and causing the price to break through the $329 barrier. Based on the current market pattern and trading rate, the commodity is expected to reach a local high above $450 within the next week.

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